Global stock markets rose on Monday and oil prices eased as investors hailed strong U.S. holiday season sales and some grew less fearful about economic damage from the Omicron variant of COVID-19.
Wall Street's main stock indexes notched their fourth straight session of gains, after reports last week that the highly infectious Omicron variant may not be as deadly as earlier types of COVID-19."Heading into 2022 we will still have COVID uncertainties but the good news is that, according to the WHO, we may be see the end of the pandemic towards the end of year," said Jawaid Afsar, sales trader at Securequity.
He added that next year markets must also contend with other issues, ranging from inflationary pressures to policy tightening and geopolitical risks. Looking ahead, thin trading volumes ahead of New Year could make markets volatile. Still, since 1945, the last five trading days of December and the first two days of January have boded well for U.S. stocks 75% of the time, according to CFRA Research data.
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